17 Dec, 2021 Posted by - Admin

America’s Fiscal Cliff: IMF, Experts Urge Path to Financial Stability

The debt situation in the United States is looking increasingly precarious, and the country is on the brink of a fiscal crisis unless it takes steps to reduce its federal budget deficit and manage debt growth.

This is a warning from experts, including the International Monetary Fund (IMF), which said in a report last week that the astronomical increase in the U.S. national debt poses significant risks to the global economy, which also has the potential to further exacerbate high inflation.

In an unusually forthright criticism of U.S. policymakers, the global financial agency added that an unsustainable fiscal policy was partly responsible for the country’s recent strong performance among advanced economies